Cohen & Steers Inc. Grows Stock Position in PNM Resources, Inc. (NYSE:PNM)

Cohen & Steers Inc. raised its stake in shares of PNM Resources, Inc. (NYSE:PNMGet Rating) by 52.4% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 2,061,337 shares of the utilities provider’s stock after buying an additional 708,896 shares during the period. Cohen & Steers Inc. owned about 2.40% of PNM Resources worth $98,264,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of PNM. American Century Companies Inc. acquired a new stake in shares of PNM Resources during the 1st quarter valued at about $30,938,000. Teacher Retirement System of Texas grew its position in shares of PNM Resources by 7.5% during the 1st quarter. Teacher Retirement System of Texas now owns 17,010 shares of the utilities provider’s stock valued at $811,000 after acquiring an additional 1,188 shares during the period. Credit Suisse AG grew its position in shares of PNM Resources by 54.5% during the 4th quarter. Credit Suisse AG now owns 362,264 shares of the utilities provider’s stock valued at $16,523,000 after acquiring an additional 127,788 shares during the period. Coldstream Capital Management Inc. grew its position in shares of PNM Resources by 5.9% during the 1st quarter. Coldstream Capital Management Inc. now owns 5,650 shares of the utilities provider’s stock valued at $269,000 after acquiring an additional 313 shares during the period. Finally, Quinn Opportunity Partners LLC acquired a new stake in shares of PNM Resources during the 4th quarter valued at about $7,573,000. Hedge funds and other institutional investors own 91.18% of the company’s stock.

PNM Resources Trading Down 0.5 %

PNM stock opened at $47.35 on Friday. The company has a current ratio of 0.41, a quick ratio of 0.33 and a debt-to-equity ratio of 1.63. PNM Resources, Inc. has a 12-month low of $43.43 and a 12-month high of $50.11. The stock has a market cap of $4.06 billion, a price-to-earnings ratio of 26.02, a PEG ratio of 3.66 and a beta of 0.42. The business’s 50-day moving average is $47.77 and its 200 day moving average is $47.01.

PNM Resources (NYSE:PNMGet Rating) last posted its quarterly earnings data on Thursday, August 4th. The utilities provider reported $0.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.55 by $0.02. PNM Resources had a return on equity of 10.41% and a net margin of 8.29%. The company had revenue of $499.70 million for the quarter, compared to analysts’ expectations of $445.36 million. During the same period in the previous year, the firm posted $0.55 EPS. PNM Resources’s revenue was up 17.2% compared to the same quarter last year. On average, sell-side analysts anticipate that PNM Resources, Inc. will post 2.6 EPS for the current fiscal year.

PNM Resources Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 31st. Shareholders of record on Wednesday, August 17th were paid a $0.347 dividend. This represents a $1.39 dividend on an annualized basis and a yield of 2.93%. The ex-dividend date was Tuesday, August 16th. PNM Resources’s dividend payout ratio (DPR) is 76.37%.

Analyst Upgrades and Downgrades

Separately, Mizuho dropped their target price on PNM Resources from $52.00 to $51.00 and set a “buy” rating on the stock in a research report on Wednesday.

PNM Resources Profile

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PNM Resources, Inc, through its subsidiaries, provides electricity and electric services in the United States. It operates through Public Service Company of New Mexico (PNM) and Texas-New Mexico Power Company (TNMP) segments. The PNM segment engages in the generation, transmission, and distribution of electricity.

See Also

Institutional Ownership by Quarter for PNM Resources (NYSE:PNM)

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